Study is optimistic
More companies focus on environmental protection
1/12/2023, 4:17 p.m
The topic of climate protection is also becoming increasingly popular in the corporate world: More and more corporations are enthusiastic about sustainability. Nevertheless, there is a need for expansion – the financial sector in particular is lagging behind. There is widespread agreement on who is the most important driver of climate protection.
Sustainability is becoming increasingly important for companies. This is the result of a company survey by the Bertelsmann Foundation and the Federal Association of Energy and Water Management (BDEW). More and more companies are setting themselves goals for climate protection, for example, of their own accord. In autumn, the Bertelsmann Foundation, together with other institutions, surveyed 735 employees in the real economy and the financial sector for its Sustainability Transformation Monitor. 84 percent of those employed in the real economy stated that the topic of sustainability had become “more important” or “much more important” for them; in the financial sector, this was stated by 73 percent.
However, the proportion of those who see the topic of sustainability as “entirely” or “predominantly” anchored in their company was noticeably lower at 46 percent in the real economy and 40 percent in the financial sector. According to the survey, only around a third of companies in the real economy and a quarter in the financial sector have set themselves specific climate targets. However, many respondents indicated that this was “in preparation”.
Young generation gives impetus
The BDEW specifically surveyed energy companies. The result is similar, but the energy sector seems to be further along: Four out of five companies see the importance of sustainability as high to very high. Around 60 percent of the companies have their own sustainability strategy, and another 10 percent are in the process of preparing one. CO2 neutrality is by far the most frequently mentioned sustainability goal.
According to the Bertelsmann study, the young generation in particular is seen as the most important driver of the transformation towards more sustainability. 72 percent of respondents said so. But the management in the company was also often mentioned as an important driver. The media followed in third place with 64 percent. On the other hand, only 30 percent see the trade unions as an important player.
“The results of this first Sustainability Transformation Monitor give cause for cautious optimism – they show that the economy is on the move when it comes to sustainability,” explained Laura Edinger-Schons, sustainability expert from Universität Hamburg. Nevertheless, the authors of the study advocate further levers, such as the remuneration of employees could be linked to the achievement of sustainability goals.